OCC’s Hsu continues call for stablecoin standards
Acting Comptroller of the Currency Michael Hsu advocated for stablecoin technical standards today during an event focused on artificial intelligence and the economy.
Browsing: Technology
ABA, groups: more clarity needed on Fed payments system access proposal
As the Federal Reserve continues to consider which entities may become eligible for access to its payments systems, ABA and a coalition of trade groups called for the Fed to clarify how it will address problems of institutions with novel charters—such as state-chartered non-depository banks and crypto firms—seeking access.
ABA Foundation, FTC release consumer education infographic on payment app scams
The American Bankers Association Foundation and the Federal Trade Commission released an infographic with information to help consumers protect themselves when using mobile payment apps and services.
Shorter settlement cycle means banks’ brokerage services face challenges
Banks that retain more of their brokerage activity in-house but outsource functions such as trade execution or clearing to third parties will face bigger hurdles.
FSB chair: Invasion of Ukraine has ‘profoundly changed’ global financial markets
Chair of the Financial Stability Board sent a letter to G20 finance ministers and central bank governors addressing financial stability issues caused by the invasion of Ukraine.
The case for one-click compliance to fight cyber attacks
Helping banks secure their email—and their organizations
IMF analysts call for regulatory parity between banks, fintech firms
Fintech firms and traditional banks should be governed by proportional policies, International Monetary Fund analysts wrote in recent blog that accompanies the IMF’s latest chapter in its Global Financial Stability Report exploring fintech’s rapid growth.
RIP ROI, hello ‘ROX’
“Return on experience” is now a useful measure for banks. The good news is that the tools for making the qualitative quantifiable already exist.
Four ways banks can successfully de-risk legacy application cloud migrations
Which applications can be moved safely as they are, which ones should be modernized before they are moved and which ones should not be moved at all?
Hsu advocates for bank-like regulation for stablecoins
Acting Comptroller of the Currency Michael Hsu called for establishing an “intentional architecture” for stablecoins that would focus on “stability, interoperability and separability,” and also take into account privacy, security and the need to prevent illicit finance.